Kiora Pharmaceuticals (NASDAQ:KPRX) Trading Down 2.4% – What’s Next?

Shares of Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) dropped 2.4% on Monday . The stock traded as low as $1.98 and last traded at $2.04. Approximately 46,553 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 26,190 shares. The stock had previously closed at $2.09.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Kiora Pharmaceuticals in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.00.

Kiora Pharmaceuticals Price Performance

The firm has a market cap of $7.51 million, a price-to-earnings ratio of -0.98 and a beta of -0.80. The firm’s 50 day moving average price is $2.13 and its two-hundred day moving average price is $2.26.

Institutional Trading of Kiora Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. purchased a new position in shares of Kiora Pharmaceuticals in the 4th quarter valued at approximately $152,000. DRW Securities LLC raised its stake in shares of Kiora Pharmaceuticals by 199.2% during the fourth quarter. DRW Securities LLC now owns 110,282 shares of the company’s stock worth $217,000 after purchasing an additional 73,417 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Kiora Pharmaceuticals during the third quarter worth approximately $125,000. Two Sigma Investments LP acquired a new stake in shares of Kiora Pharmaceuticals during the third quarter worth $33,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Kiora Pharmaceuticals by 71.0% during the fourth quarter. Renaissance Technologies LLC now owns 21,200 shares of the company’s stock worth $42,000 after purchasing an additional 8,800 shares during the period. 76.97% of the stock is owned by institutional investors and hedge funds.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc (NASDAQ: KPRX) is a clinical-stage biotechnology company dedicated to developing innovative therapies for serious eye diseases. The company’s research efforts focus on modulating immune and neurological pathways in the eye to address conditions that currently have limited treatment options. Kiora’s approach combines small-molecule immunomodulators with advanced gene-based and optogenetic technologies to preserve and restore vision.

The company’s lead product candidate, KIO-100 (PP-001), is an intravitreal formulation designed to inhibit key inflammatory pathways implicated in non-infectious uveitis and other autoimmune ocular disorders.